AUDNZD Monthly w/ Updates OngoingThe explanation will be in the charts. Will update as I see fit. Not Advice.
The following timeframes will be linked and updated as well:
Monthly-Weekly-Daily-4Hour-1 Hour-15 Min
The idea is to walk through multiple timeframe analysis so we can learn together. This is really a journal for myself but wanted to make it public so others can learn from my own mistakes or progress. Let's go!
Aud-nzd
AUDNZD 1 Hour w/ Updates Ongoing *Not Advice*We have posted a Monthly outlook with weekly, daily 4 hour,1 hour, and 15 min charts on their respective pages so be sure to check those publishes in the related ideas section. I wanted to add a 1 hour so we can all practice multiple timeframe analysis. I'm no pro but I want to use this pair to journal trades not to show off. I's better to journal here vs my own sources due to how nice the platform is.
Now, as far as the 1 hour, there's not much difference in our outlook compared to others. I was hesitant about the 4 hour markup due to price being in an oversold position and price being near our green demand zone on that timeframe. However, other timeframes show that price may not be done testing the previous low of the daily-monthly timeframes even if a pullback to test recent 4 hour could work out as well before a reassessment of our short trade. On this 1 hour timeframe we see we are in an overbought scenario with no newer highs and a lower low formed this morning. I don't have a specific price target for this timeframe as of now but we do want to see the previous low be tested or broke before further outlook. I'll update as I go depending on associated timeframe.
AUDNZD Montly w/ Ongoing Updates *Not Advice*Weekly Economic Analysis: 7/30/23
Pair: AUDNZD
GDP (Down: Weaker Currency Up: Stronger Currency)
- Aud down NZD up
Employment (Down: Weaker Currency / Up: Stronger Currency)
- Both up
Inflation (Down: Weaker Currency Up: Stronger Currency)
- Both Down
Interest Rate (Down: Weaker Currency / Up; Stronger Currency)
- AUD news week. Both stalemate
Balance of Trade (Down: Weaker Currency / Up: Stronger Currency)
- AUD down NZD up
PMI (Down: Weaker Currency / Up: Stronger Currency)
- Services: Both are down
- Manufacturing: AUD up NZD down
Bias: NZD Stronger
Monthly Technical Analysis
- Price could be in a range with our bias to the demand zone around 1.03758.
AUDNZD Sell signal on the Symmetrical ResistanceThe AUDNZD pair is consolidating on the 1D MA50 (blue trend-line) for 4 straight 1D candles, having formed a 1D Golden Cross last week. Even though that is a technically bullish formation, as long as it doesn't break above the 1.093250 Symmetrical Resistance, a rejection seems more probable. As long as it holds, we will sell and target the Higher Lows trend-line at 1.06200.
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AUD/NZD to benefit from yield differentials? A strong 2-day rally this week suggests AUD/NZD has printed its swing low at 1.07266. Whilst NZ inflation data was stronger than expected in Q2 and saw AUD/ZD pull back to 1.0800, we suspect it is still lower from the prior reads to allow the RBNZ to hold rates steady with an economy already in a recession.
We therefore see today's retracement lower to 1.080 as a potential gift for bulls, and for a move to 1.0900 or even 1.1000 over the coming weeks. The RBA may still have to hike once or more and that could see expectations of a lower RBNZ-RBA cash rate and support AUD/NZD.
A break beneath this week's low invalidates the bullish bias.
AUDNZD: Bullish Cross can take it higher for a new sell entry.AUDNZD is currently forming a Golden Cross on the 1D timeframe, which is technically bullish (RSI = 59.438, MACD = 0.004, ADX = 24.813). The symmetric sequence on the 1D RSI with the February-April phase indicates that the Cross can indeed push the price higher, over Fibonacci 0.618 and then decline to form the Lower Low at the bottom of the long term Channel Up. We are already on a sell since June 7th (see idea below) but we will add another on Fib 0.618 targeting the Channel's bottom (TP = 1.062500) again.
Prior idea:
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AUDNZD Potential UpsidesHey Traders, in the coming week we are monitoring AUDNZD for a buying opportunity around 1.07500 zone, AUDNZD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.07500 support zone.
Trade safe, Joe.
AUDNZD Halfway through the bearish leg. You can still sell.AUDNZD crossed under the 1day MA50 this week for the first time since May 24th.
That is the bearish leg from the Falling Resistance to the Rising Support in order to form the new Higher Low.
The 1day RSI just entered the 4 month Support Zone, where the price Low was formed at the bottom of the Support Zone.
This is still a good sell. Target 1.061500.
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AUDNZD Potential UpsidesHey Traders, in today's trading session we are monitoring AUDNZD for a buying opportunity around 1.07500 zone, AUDNZD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.07500 support zone.
Trade safe, Joe.
AN should be continuing downLast week, I mentioned about looking to short on AN if there's opportunity...a pullback pull can be seen since tues. Bearish flag on h4, looking to start shorting again for AN.
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
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EN/EA likely a pullback on higher timeframe and look for long Bias to go on long on lower timeframe
Likewise same for EurAUD
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Hello there!
If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
And if you would like to show further support for me, you can gift me some coins on tradingview! 😁
Thank you!
Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
AUDNZD: Classic Bullish Reversal 🇦🇺🇳🇿
AUDNZD was steadily falling within a channel.
Once 1.082 support was reached, the market started to consolidate
within a horizontal range.
During the Asian session, bulls manage to break the resistance of the range
and the upper boundary of the channel.
It is a very important indicator of the strength of the buyers.
I expect a pullback to 1.0884
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AUD/NZD potential swing trade long above the April lowAUD/NZD has fallen 3% since the April high, although it looks set to build a base above the April low. A Rikshaw Man Doji formed on the daily chart above this key support level and a bullish RSI is forming on the RSI (2) to hint at a near-term inflection point.
What may help it rally from here is Bloomberg's report that the RBA considered three rate paths ahead of their February meeting, two of which saw rates climbing to 4.8%, and the other at 3.35%. Given rates are now 3.8%, it leaves room for more hikes and for the RBA OCR to close the gap with RBNZ's.
The bias remains bullish above the April low and for a counter-trend rally towards the 1.7034 high.
AUDNZD Potential UpsidesHey Traders, In today's trading session, we are paying close attention to the AUDNZD currency pair, as we believe there might be an opportunity to buy around the 1.09600 zone. From a technical standpoint, AUDNZD is currently in an uptrend but experiencing a corrective phase. It is approaching a significant support zone around 1.09600, which adds to its appeal as a potential buying opportunity.
From a fundamental perspective, it's worth noting that the Reserve Bank of Australia (RBA) is still in the process of gradually raising interest rates. This indicates their intention to tighten monetary policy in order to manage the economy. On the other hand, the Reserve Bank of New Zealand (RBNZ) has officially halted any further rate hikes, suggesting a more stable or potentially looser monetary policy approach.
Considering both the technical and fundamental factors, the current market conditions suggest that the AUDNZD pair could present an attractive buying opportunity near the 1.09600 support zone.
Trade safe, Joe.
AUDNZD, H4 | Double Top Reversal?We're seeing price make a nice double top reversal off the 127% Fibonacci extension. A reversal from here usually brings price down to the 100% level where it broke out from.
We're zooming in a bit more into the H4 time frame and notice that price has formed a nice double top pattern. We could see price drop from the 1.0966 towards the 1.0932 which is the pullback support level and a major 23% Fibonacci retracement.
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AUDNZD Potential UpsidesHey Traders, in the coming week we are monitoring AUDNZD for a buying opportunity around 1.09700 zone, AUDNZD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.097 support zone, additionally AUDNZD have formed a bull flag in lower timeframe so we will be considering a potential breakout of the pattern.
Trade safe, Joe.
Institutional Supplu: AUD/NZD ShortHi again!
Cool - it's time to share the second chart I've my eyes on as well for the upcoming 48 hours! It is of course AUD/NZD (again) but this time for a potential short play!
Overall, our criteria points are met, and they are rather simple so that is nice. However, we've some additional things that I like! And, that is the fact that this pair is getting very over-extended and that is pretty rare for pairs such as these. This does increase the probability of my zone playing out for a pullback, so I'll be waiting!
Of course, the 4hour time-frame is what I am looking at to confirm my bias.
Kind regards,
Max Nieveld